Newcomers and their greediness

May 22, 2020 at 05:48
3,398 Views
71 Replies
Member Since Jul 27, 2020   81 posts
Oct 06, 2021 at 08:22
There should be an ability to manage not only risks and capital, but also your emotions.
Member Since Dec 21, 2020   36 posts
Oct 08, 2021 at 06:55
I am sure we all have experienced beginner's luck but some newbies without proper knowledge and skills indulge in overtrading because of greed which leads to losses. So beware of that.
Member Since Dec 26, 2019   20 posts
Oct 15, 2021 at 19:10
Actually, it's not a real discovery when you state that novices are greedy. Of course they are greedy because all of them have a prejudice that trading equals easy money. Moreover, it's very difficult to convince them think otherwise. In my opinion, all the learning materials should contain such an information where will be stated that never think that trading is the easiest way to earn money. It's not easy at all and in addition, it won't be easy even if you know a lot. Trading is combination of learning theory and practicing. You can't reach success without one of these 'ingredients' actually.
Member Since Jul 31, 2020   11 posts
Nov 12, 2021 at 11:55
I think that every trader faces greediness. It doesn't depend on his/her experience, actually every trader passes this stage on his/her way to success. Moreover, I believe that every trade must have pass this stage, otherwise it will be very difficult to pass it when you will be on top. Of course, all traders have the particular percent of greediness when they are in trading activity. In my opinion, it's cool that sometimes you can be greedy and take plenty of risks on yourself. Nevertheless, traders must comply with measure in this thing, because if you won't comply with measure, if you will trade with high leverages, everything can easily lead you to unpleasant consequences.
Member Since Jul 19, 2020   751 posts
Dec 31, 2021 at 20:43
Greed is the bigger drawback in trading. if you greed much that will go over your brain and you will not be able to take the right decision
Member Since Mar 23, 2020   63 posts
Jan 06, 2022 at 08:42
JensonAckles posted:
Newcomers in forex trading, with excitement to make money take high risks and end with immense losses. As a newbie acquiring knowledge on the forex market, risk management, and money management are vital to avoid failures.
I agree with you, knowledge is the key to profits in forex which every newbie should note.
Member Since Mar 17, 2021   536 posts
Jan 06, 2022 at 17:30
JensonAckles posted:
Newcomers in forex trading, with excitement to make money take high risks and end with immense losses. As a newbie acquiring knowledge on the forex market, risk management, and money management are vital to avoid failures.
New traders should be very careful about their actions.
Member Since Apr 18, 2020   54 posts
Jan 07, 2022 at 05:13
When you join forex, number one rule should be to learn sincerely that greed can eat up all your profits which you have earned with hardwork.
Member Since Nov 04, 2020   13 posts
Aug 27, 2022 at 19:27
I have noticed that many novice traders have greed. This is what prevents them from making money.
Because of greed, the trader opens more and more trades. As a rule he does it at the time when there is no need to do it... It's sad...
So it's very important to learn to control your emotions.
To practice emotions you probably need to start trading with real money as early as possible. It may be a minimum deposit. It would be better if it does not exceed $300.
In fact, the more experienced the trader becomes, the easier it is to control his emotions.
With time he loses his greed.
Member Since Aug 17, 2022   39 posts
Sep 02, 2022 at 04:28
Seeing other people earning well in forex, beginners get influenced and jump into forex trading to get rich as early as possible without checking out the trade history of experienced traders. This greed instead of giving more money takes away the money which is already in their holdings.
Member Since Aug 08, 2022   20 posts
Oct 31, 2022 at 06:30
I agree. Greed is likely to be the most difficult obstacle to overcome if you want to be a successful trader. In financial market, becoming greedy is fairly frequent, since all traders go through this stage. The more you prioritise money over protocols and consistency, the faster you will lose your trading account.

Over-trading will always lead to failure, therefore never trade in the market for the sake of generating money quickly. Be a beginner or an experienced trader, everyone should keep themselves away from greed while trading.
Member Since Aug 05, 2021   401 posts
Nov 17, 2022 at 18:44
Greed is never good for traders. I think a lot of beginners also have unrealistic expectations. They get greedy and feel like they should be making money more quickly, so they act without thinking. Of course, greed can affect traders of any skill level.
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